For the clueless guys, Mohammad Bin Rashid Establishment is an entity that was formed to integrate the effort of several governmental institutions. The ruler court was responsible for giving the loans while the responsibility for granting lands was the Municipality. At that time and in the process of changing their procedures, when you go to the Municipality they would say that they can't give u a land unless u have 500k in your account and when you go to the Ruler court they say that they cant give you a loan unless you have a land so it was pretty messed up. Fortunately, they fixed all those issues.
I rememeber when they first annouced building 10,000 houses for Emirati youth worth 10billion dirhams, they even called it a gift "makruma" only to turn out as economical housing program where we need to pay a supposedly reduced amount of money. I bet the 10billion dirhams included the named land price and electricity and water connections and any form of infrastructure. They are not even that cheap especially considering that the land is being granted by the government, not to forget that they "stole" Emaar desings and the lands are smaller than our house extension. The lands are mere 8000 to 10000 sqft comparing to a general 15,000 in other areas. Oh, speaking of that, they lowered the new areas land plots sizes to 10,000.
So I heard from different sources that Mohammad Bin Rashed Housing Establishement has stopped accepting application forms from Emirati bachelors. In fact, they didn't only do that but also even the ones who applied 5 years ago and were about to get their loan was stopped. Ya3ny, its pathetic that we need to wait several years to get loans and then stopping it all together?
They also said that they will raise the pathetic loan of 750k in the boom but backed off when the crisis started saying that building houses is more affordable. Well, I don't think anyone can build a decent house with a stupid 750k before or now and while am not of those many people who say that we should be getting the 750k as a grant and not a loan I still think that they should raise the loan to 1.5 million dirhams and everyone will be happy.
Another final thing, they raised the mol7aq houses by 200 to 300 thousand dirhams too and that is in the so called depression and when the construction costs are way lower. Also the number of loans being granted every month has gone for 150 loans per month to God knows how many now. I don't even remember the last time the annouced granting those loans like they always do in the newspaper with an advertisement that occupy a full page, you know, the Dubai way of marketing and glorifiyng everything
So this is a main pillar the government didn't fulfill its duties in so some wonder, what should the government priority be?